DR Horton St Lucie County (Lulfs Grove aka Astoria)

DR Horton has finally submitted their Mass Grading Plan for Phase 1, 2, 3, and 4 (141.7± gross acres) of Lulfs Grove (aka Astoria) in St. Lucie County. Lulfs Grove is a 464± acre parent tract of land, located along the west side of Glades Cutoff Road, adjacent to LTC Ranch. Given the submittal date of March 6, 2024 assume they'll submit their Final Construction Plans sometime mid 2024 with lots being developed late 2025. As can be seen there remains land available, not under contract along the transportation corridor further south.

According to SmarRE data there have been 1,736 new home closings over the trailing 12 months with a median closing price point of $480,000. Presently, there are 250 new homes listed for sale in the submarket at a price point of $500,000 or $254/BSF for a typical 1,900 BSF new home. Furthermore, lot ratios over the trailing 12 months are at or near 20% (does not include any true-up) suggesting developed lot prices are at or near $100,000 for typical 50' product. Note, depending upon amenities and views can be adjusted upward significantly.